As you have seen in recent news, EnerTech is adding to our team as part of a continued expansion of the firm's focus on the mobility space. We have asked our newest Special Advisor, Sherwin Prior, a few questions that we hope will provide you a glimpse into his personality and also reveal the unique insights he will bring.
What do you feel will be your most prominent contribution as a member of the EnerTech Team?
Sherwin: "I've been involved in automotive investing before the term "mobility" became a colloquial term! I've been fortunate to participate as lead or co-investor for more than forty deals across the broader automotive/mobility space. Along the way, I've developed a solid network of investors, partners and startups that I believe can be a strong asset for EnerTech's Mobility efforts. It is tremendously helpful that the EnerTech team and I have co-invested in several companies, so we have a really strong working relationship."
What are your thoughts on how can EnerTech and corporate venture organizations best collaborate in today’s mobility sector?
Sherwin: "I think there is a real opportunity to collaborate with strategic partners that want to participate in the venture eco-system. The opportunity is in the curation of deal flow. Unfortunately, it is a bit common to take an LP's capital but not be intentional about helping them identify specific start-ups. It's a bit like we can bring you any deal you want as long as the color is black. Avoiding this approach can be a point of differentiation."
Has the large incumbent corporate mindset toward early-stage companies changed over the past decade? If so, how?
Sherwin: "Has the mindset changed? Yes and No. I'm fond of saying that "corporations like to benchmark best practices then bastardize the them until they're no longer good practice at all!." So, yes more corporations than ever are participating in the venture eco-system but most of them are not optimizing the opportunity because they try and manage it the way they do every other function in their organizations. Consequently, they often don't get access to the best start-ups early on."
What is your dream vacation post Covid-19?
Sherwin: "I'm looking forward to visiting a tropical paradise with lots of people on the beach all of whom have not a care in the world!"